As you navigate the retirement process, having a financial advisor is beneficial to make sure you plan appropriately. But how do you know if the financial advisor is best suited for your needs? As a federal employee, your retirement system is unique and it’s essential to find a Fed Focused Advisor who specializes and is familiar with its programs, forms, and requirements.
HOW DO YOU KNOW IF YOUR ADVISOR IS FED FOCUSED?
Most financial advisors will look similar on the surface, but you will need to find someone who has demonstrated extensive experience working with federal employees. A great place to start is by looking at their website. If they are Fed-Focused, their website should highlight their experience, knowledge, and understanding of federal retirement benefits.
Fed-focused advisors will be trained as Federal Employee Benefit Consultants. Look for someone who has a Chartered Federal Employee Benefits Consult (ChFEBC) credential. ChFEBCs are financial professionals who have extensive training in Federal Benefits and associated programs. They have a great deal of knowledge about FERS, CSRS, and special provisions that may be unique to you. Additionally, these financial professionals are required to stay up-to-date on continual changes to Federal Government Benefits Programs. Another designation to look for is Federal Retirement Consultant (FRC). The FRC designation certifies a financial professional’s expertise in federal benefits.
In addition to the above designations, the financial advisor should be a fiduciary, licensed by a national oversight organization (FINRA, SIPC), and securities registered. Being securities registered ensures that they have access to more investment programs and are held to a higher standard of responsibility.
HOW DO YOU FIND A FED-FOCUSED ADVISOR?
Referrals can often be a great place to start. Talk to co-workers and other Federal employees. If they have had great experiences, it’s probably worth talking to that financial advisor to see if they are a good fit for your needs.
Additionally, you are welcome to call Benchmark Financial Group to assist with your retirement planning needs. We specialize in Federal Retirement Benefits, and it won’t take long to realize what a difference it makes to be working with a team of federally experienced professionals.
READY TO TAKE A LOOK AT YOUR FINANCIAL SITUATION?
If you have any questions regarding your federal retirement, Benchmark Financial Group is here to help. We will take a closer look at your financial situation because retirement may be closer than you think! Schedule an appointment today with Benchmark Financial Group by filling out the form online or calling David Raetz at 913-534-8256 to discuss your financial needs. Benchmark Financial Group is happy to help you navigate your options and determine the best path to move toward your financial goals.